Page 10 - AfrElec Week 32

AfrElec
NEWS IN BRIEF
AfrElec
COAL
Australia’s Stanmore Coal
receives $300mn takeover
bid from Winfield Energy
Australia’s Stanmore Coal said it had received a takeover proposal from privately held Win eld Energy valuing the coal miner at up to A$435mn ($292mn).
e o er represented a premium of up to 36.5% to the company’s last close, with an indicative price between A$1.50 and A$1.70 ($1-1.15) per share in cash.
Stanmore’s high-grade coking coal deposits, strong production and existing infrastructure in the northern state of Queensland have this year attracted would-be suitors such as Golden Energy and Resources Ltd.
Its shares jumped 21% to post their biggest daily gain in nearly two years, touching
the lower-end of the proposed bid range at A$1.510 ($1.02).
Privately held Win eld Group has boosted its coal exposure this year, buying a 12.5% stake in Queensland’s Rolleston thermal coal mine from Japanese trading house Itochu in February, which gives it access to 2mn tonnes a year of thermal coal.
It is run and owned by former executives of top U.S. coal producer Peabody Energy, including Managing Director John Canavan and Executive Chairman Rob Hammond.
Banks have been pulling back from lending to thermal coal projects due to climate change concerns and investor pressure. A buyout of Stanmore Coal would turn Win eld into a majority coking coal producer, potentially making nance easier to access.
Win eld Energy said it was currently working with its debt and equity nanciers to negotiate nancing to acquire all shares on issue. It did not specify who its nanciers were.
RENEWABLES
SOLA Group secures solar PV deal in Southern Africa
Renewable energy provider SOLA Group, has signed a US$ 26mn deal to build 40MW commercial and industrial solar PV facilities across Southern Africa.
e renewable energy fund will enable the solar PV projects to be built without capital expenditure by the electricity o - takers. e projects will be located in cities like Johannesburg, Durban, Cape Town, Ekurhuleni, Nelspruit, Port Elizabeth and Polokwane.
SOLA Group, African Infrastructure Investment Managers (AIIM), and Nedbank Energy Finance, have partnered to provide a ordable solar PV solutions for businesses that are in dire need of power security.
“ is partnership brings together three highly experienced entities whose combined skills o er consumers clean energy solutions at a time when our country desperately needs it,” said Chris Haw, Chairperson of the SOLA Group.
Mitesh Pema, Investment Director at AIIM said Investing in clean energy infrastructure
is a key aspect to bolstering the African economy. AIMM is the infrastructure arm of Old Mutual Alternative Investments.
“Funding these renewable energy projects will enable industrial facilities to access secure and cheaper power, freeing up CAPEX for investment into their core business activities.”
Earlier this year, Former Energy Minister Je Radebe granted permission to the National Energy Regulator of SA to license Small-scale embedded generation projects from1MW–10MWinsizebeforethe Integrated Resources Plan (IRP) is nalised.
“Allowing small-scale embedded generation of electricity is a key lever for the government to enable exible electricity generation, and ultimately the transition to
a low-carbon economy,” said Duncan Abel, Principal for Energy Finance at Nedbank CIB.
“ e private sector also has a role to play in investing in electricity infrastructure and making a contribution to the energy mix.”
e construction of 40 MW of solar PV projects through the fund is likely to create an additional 880 jobs in the coming years.
Egypt to lead solar energy projects in across Africa
Cairo-based Arab Industrialisation Organization (AOI), a structure owned by the Egyptian government, has announced a plan to build solar power plants in seven African countries to reduce the energy de cit on the continent.
AOI will develop renewable energies and reduce energy shortages in Uganda, Congo, Tanzania, Eritrea, Somalia and South Sudan.
Solar plants in these countries will have capacities ranging from 2MW to 4MW.
e design, nancing, construction and operation of the plants will be carried out
by the AOI. ese solar power plants will be used for lighting and desalination of drinking water in the target countries. ey will bene t from a $12mn grant from the Egyptian government.
Egypt has made considerable progress in the eld of renewable energy. In 2017, the country moved up 23 places in Bloomberg’s annual Climatescope ranking, and ranked 19th out of 71 countries surveyed.
At a site in the Western Desert, some 650 km south of Cairo, Egypt hosts one of the world’s largest and most ambitious solar energy projects.
e Benban Solar Park will produce enough electricity to supply 350,000 households.. But more than that, it is part of a whole new strategy for infrastructure projects that will see the Egyptian government start working closely with private enterprises.
e plants will house 32 power stations across a 37 square km site, and will be capable of generating 1,650 megawatts of electricity. is will go a long way toward Egypt hitting its goal of having 20% of its energy needs met by renewables.
Scatec Solar’s opens first solar plant in Mozambique
Scatec Solar and partners have grid connected and started commercial operation for
the 40 MW Mocuba solar power plant in
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Week 32 14•August•2019